This is part 2 in "Becoming a full time real estate investor."
To become a successful full time Canadian real estate investor, we must have a master plan in place. This master plan must outline our goals in terms of acquisitions, financial goals and related time lines.
We must create a plan that outlines what we want to accomplish in the first year, second year, and so on, in order to be able to create a credible real estate investing business. This will include gathering a team of experts around us, not only in the city that we live in, but other cities where there may be excellent real estate deals available.
Interviewing team members
We must have the knowledge to interview key potential team members to build a successful team around us. (These interview questions are covered in a previous series of articles.)
Your master plan
Your master plan should also include the amount of property that you need to purchase every year to accomplish your financial goals. This includes deals you do utilizing zero of your own money and deals through the networking groups that you need to belong to. (This will also be covered in a future article.)
Educate yourself and decrease your risk
The other part of your master plan MUST be real estate investment education. Without this education, you leave yourself exposed to a very high risk of failure. If just reading a couple of books are all you intend to do for your education, then I would suggest you please don’t start.
Educate yourself with a real estate coach, trainer, mentor, who is a credible authority to open you mind up to the amount of business that can be done out there that far surpasses the average investor that just does a renovation or becomes a landlord.
Update your skills
Your master plan should not just include upfront training, but continuous training as you proceed through your career, making it more like an apprenticeship or an internship, just like a doctor would get, or anyone in the corporate world who continues to take courses to upgrade their education as they rise in their field. This is a formula for a successful career as well as financial freedom.
Canadian Wealth Builders offers many unique, practical, out of the box real estate investor trainings which offer the student hands on, in the trenches style instruction. To find out more, please go to www.canadianwealthbuilders.com
Your success is our business !
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